SAN JOSE, Calif., July 18, 2003 -- Frost & Sullivan presented its 2003 Entrepreneurial Company Award to ReGENco, an independent turbine and generator repair organization that offers complete outage and emergency services.
The award was presented at ReGENco's Customer Open House held in their historic Allis Chalmers, West Allis, Wisconsin facility.
In the recent study North American Power Plant Services Markets, Frost & Sullivan found that ReGENco has demonstrated superior entrepreneurial ability in its industry. Within two years of startup, ReGENco has steadily grown in this mature, capital-intensive, and difficult to penetrate market still dominated by international giants.
With an average of twenty years experience in the field per employee, ReGENco's staff can handle virtually any brand or size of steam turbines and generators. Because of reduced overhead costs and the OEM training of their employees, the company is able to service equipment at a lower cost without compromising quality.
ReGENco's service solutions and marketing strategies have earned recognition from major industrials and utilities. At a time when the entire power equipment supply and service industry was concentrating on gas turbines, ReGENco chose to focus exclusively on steam turbines and generators, answering immediate needs in the market and developing a loyal customer base.
The company has also taken unique advantage of the current turmoil and plant cancellations in the power sector by introducing a modern combustion turbine storage facility, a service normally provided only by OEMs. By breaking into this market, ReGENco is likely to emerge as a cost effective alternative for those plant owners whose projects have been delayed.
"The 2003 Entrepreneurial Award signifies ReGENco's accomplishments, within a short span of time in the mature power plant services market," says Ravi K, senior industry analyst at Frost & Sullivan. "It also recognizes the company's identification and charting of a unique growth path that combines distinct service offerings with strategic alliances, both with the customers and suppliers. Frost & Sullivan sees significant market potential for ReGENco's service lineup and also believes that the company's marketing strategy is fine tuned to realize this potential."
ReGENco is one of the industry's largest and most capable independent turbine and generator repair organizations offering complete outage and emergency services plus New Equipment Storage. ReGENco has an expert team of highly experienced, OEM trained, shop personnel, project managers, technical directors and a large full-time engineering organization.
About Frost & Sullivan
Founded in 1961 and a global specialist in growth consulting, Frost & Sullivan presents awards to companies that demonstrate excellence in their industry, commending the diligence and innovative business strategies required to advance in the global marketplace. Frost & Sullivan rigorously analyzes specific criteria to determine awards recipients in a vast variety of market industries and landscapes. For further information, visit www.frost.com.